In her Cato Online Forum essay about the strategic dimensions of the Transatlantic Trade and Investment Partnership, Fran Burwell of the Atlantic Council sees both opportunity and necessity in its successful conclusion. The opportunity comes from — among other things — combining the strength of the transatlantic economies (which currently account for 46% of global GDP) through greater economic integration, which will provide the leverage necessary for the United States and Europe to continue to exert dominance over global trade rulemaking and standards setting.

The necessity of TTIP’s success stems from the threat to Europe (and, thus, to the transatlantic relationship) posed by Vladimir Putin, who is working to subvert the deal. “[F]ailure of the negotiations,” Burwell writes, “would be one of the best indications possible to Vladimir Putin and others that the U.S.-European partnership is just rhetoric without the capacity for action.”

Read Fran’s essay here.

Read the other essays published in conjunction with Cato’s TTIP conference last week here.